Naval Ravikant Quotes

We are quite a way off before people travel around the world without cash in their pockets. The growth of plastic and electronic transactions have tended to impact traveller's cheques rather than cash.

The truth is I don't really like the world of plastic money: the great chip-and-pin double act of modern payment. I prefer cash. I don't like the idea of some distant clerk nodding each time I make a card purchase and quietly adding to my 'consumer profile.' I'm anti all cards.

The idea of money being something physical is almost entirely a fiction. Sure, you can go to your ATM and pull out cash. And you can feel cash in your back pocket and have some tangible comfort there - but in reality, the majority of your money is a number on a screen.

When you think about how everything else works in the digital age and the way that money does, money really falls short.

Physical money, whether it's checks or cash or credit card, are digitizing in front of us.

Cash as a physical entity will virtually cease to exist, with coins and checkbooks consigned to museums. As people conduct their financial transactions on hand-held devices made secure by advanced biometrics, even tipping will be done electronically.

I don't have a wallet. I carry my driver's license and a couple of credit cards in my phone. That, and a money clip.

Cash is going to be killed. It will be nostalgia.

Bitcoin will make a dent in society when more normal transactions occur that would have occurred with dollars or credit card.

It's completely reasonable, even if some Bitcoin currency purists wouldn't like it, to have credit and debit card payments denominated in Bitcoin rather than dollars, and net settled on Bitcoin instead of on Fedwire.

With private chains, you can have a completely known universe of transaction processors. That appeals to financial institutions that are wary of the bitcoin blockchain.

In a cashless society, the cash has been converted into numbers, into signals, into electronic currents. In short: Information replaces cash.

When I was coming up through the ranks, not that many people carried a lot money of money on them. This was before checks and credit cards.

Money is the only thing you can use even if you don't have any. ... There's always a credit card.

Banks can send big corporate payments through existing channels or send a small payment through Ripple. They don't have to rip out existing infrastructure; they can use Ripple to make the transactions more profitable or more efficient.

A distributed ledger is basically a shared database that allows institutions to directly send and receive money in a trustworthy fashion without a middleman. As a result, we have the capacity to connect the world's payment systems for the first time.That's a big deal.

Some in the bitcoin community have always taken an anti-government, anti-fiat, anti-bank approach to their philosophy. Ripple takes the orthogonal side of each of those.

A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.

I don't want to be one of those rappers who had it, but right now they be on a TV show to keep them going. I would rather be out the scene, getting my money on Bitcoin.

Except for a handful of banks that just keep a handful of their loans in portfolio, on their balance sheet, every other loan that's originated in the United States - whether from a bank, mortgage company, mortgage broker - is sold into the secondary market.

Some bitcoin users see the hard fork as in some ways violating their most fundamental values. I personally think these fundamental values, pushed to such extremes, are silly.

The same way we can send and receive an email with anyone, anywhere, for free, or we can share a photo with anyone instantly for free, money will become these digital tokens, and we'll be able to do that with money.

Cash is king in Africa.

I think a lot of people have predicted the demise of cash, and they've frequently been wrong. But there's no question that the smartphone is leading to the digitization of money. You really now have all the power of a bank branch in the palm of your hand.

We saw for a time that digital currencies were radioactive to banks, but that's not the case anymore.